Golden Cross, MA 50 & MA200 closing in on each other, in AMD?
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AMD has been in a phase of consolidation for some time, the stock has been trending upwards in recent time and is close to reaching a point where the MA 50 cuts the MA 200 lines on the 1 year graph. The response that we've received from board representatives is positive even though the company is being affected by the semi-conductor shortage, indicators are however pointing towards this mainly affecting the end-consumer and not the company. Since AMD has been able to increase the share of production which the company will receive from semi-conductor producers it's likely that the company will be able to take more market share from competitors like Nvidia and Intel. Overall this boads well for the company and its coming performance.
Notice also that long supports have held up and that this consolidation period came after a quite strong bullrun. Some of the shorter resistances also seem to get questioned and might in the short term start acting as supports.
Due to these fundamental and technical indicators I'm bullish towards AMD and I hold it to be true that the performance of the stock the coming months will be positive. The thing that might, however, make this idea void is if the company hasn't been able to handle the semi-conductor shortage well. The CEO and President of the company, Lisa Su, has however been indicating that the current situation is very positive for AMD which makes these worries seem less worriesome.
Notice also that long supports have held up and that this consolidation period came after a quite strong bullrun. Some of the shorter resistances also seem to get questioned and might in the short term start acting as supports.
Due to these fundamental and technical indicators I'm bullish towards AMD and I hold it to be true that the performance of the stock the coming months will be positive. The thing that might, however, make this idea void is if the company hasn't been able to handle the semi-conductor shortage well. The CEO and President of the company, Lisa Su, has however been indicating that the current situation is very positive for AMD which makes these worries seem less worriesome.
Note
My idea of a golden cross seemed is from what I've learned actually a possible death cross. My fundamental view is however intact, we'll see where this rollercoaster goes.
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